Analysts are predicting a supply surplus will soon become a deficit...
THE LARGEST
new source for platinum group metals just might be what Jack Lifton
calls "the rubber tire mine." Noting that removing the catalytic
converter from a car's emission system produces a rate of return that
rivals the production rates of the South African platinum giants, Byron
King agrees that recycling is the wave of the future for platinum,
palladium and rhodium. In this interview with The Metals Report, Lifton and King look at a very 21st century resource extraction story...
The Metals Report: Jack, what is behind the predictions that the platinum supply surplus will become a 400,000-ounce (400-Koz) deficit?
Jack Lifton: The
world's largest platinum and rhodium producer, has taken 400,000 Koz of
platinum out of its 2013 schedule for its South African mines. While
people might not think 400 Koz is very much, you have to keep in mind
that in 2012, the total production of all of the platinum group metals
(PGMs) was less than 700 tons. One ton of precious metal has 30,000 or
31,000 troy ounces of material, troy ounces being the traditional
measurement in precious metals. That 400-Koz reduction equals 10–13 tons
and represents as much as 2% of world production. (more)
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Friday, March 15, 2013
Is Now The Time To Buy These 5 Overseas Energy Companies?
Exciting Latin America
The shareholders of Harvest Natural Resources (NYSE: HNR) lived on a roller coaster last week. Harvest couldn't sell its Venezuelan oil assets to Indonesia's state-owned PT Pertamina for $725 million, and the stock plunged.
However, Chavez's death sugarcoated the failed sale. Now, as
nationalization fears abates, some glimmers of hope rise for the foreign
entities that hold Venezuelan assets.
Harvest has operations in Venezuela, Gabon, Indonesia and Oman. The company's long term debt is $80, million and its Enterprise Value (EV) is $310 million. It produces
approximately 12,800 bopd and has 103.8 MMboe 2P Reserves, making
Harvest look very cheap at $24,200/bopd and $3/boe of 2P reserves.
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Sorry, No Gold Today…We Sent It to China
The central banks' gold is likely gone, and the bullion banks that sold it have no realistic chance of getting it back,' Eric Sprott tells us.
He also says that these 'bullion bank' intermediaries are probably turning around and selling their gold to China.
China, by the way, is the mostly likely catalyst to set off the 'zero hour' scenario we told you about yesterday.
We've chronicled China's ongoing gold grab here at Agora Financial - going all the way back to April 24, 2009, when the People's Bank of China announced its gold reserves had grown to 1,054 tonnes - up from 600 in 2003. And that's the last official word.
Then there's private-sector demand in China. The government is equally opaque on this score. But we do get regular figures on Chinese imports via Hong Kong. Last year, they totaled a staggering 834.5 tonnes. And remember, that's in a market that produces only 3,700 tonnes a year!
Couple those imports with Chinese mine production - and the total amount of gold known to be inside China has doubled in a mere three years.
Then there are the voluminous statements by Chinese public officials best taken at face value...
He also says that these 'bullion bank' intermediaries are probably turning around and selling their gold to China.
China, by the way, is the mostly likely catalyst to set off the 'zero hour' scenario we told you about yesterday.
We've chronicled China's ongoing gold grab here at Agora Financial - going all the way back to April 24, 2009, when the People's Bank of China announced its gold reserves had grown to 1,054 tonnes - up from 600 in 2003. And that's the last official word.
Then there's private-sector demand in China. The government is equally opaque on this score. But we do get regular figures on Chinese imports via Hong Kong. Last year, they totaled a staggering 834.5 tonnes. And remember, that's in a market that produces only 3,700 tonnes a year!
Couple those imports with Chinese mine production - and the total amount of gold known to be inside China has doubled in a mere three years.
- China's gold reserve is 'too small', says the Department of International Economic Affairs of Ministry
- 'No asset is safe now,' says the head of the People's Bank of China's research bureau. 'The only choice to hedge risks is to hold hard currency - gold.'
- And maybe most telling for our purposes: 'The U.S. and Europe have always suppressed the rising price of gold,' according to a commentary in the Shijie Xinwenbao newspaper, duly noted by U.S. diplomats in cables exposed by WikiLeaks. (more)
Peter Grandich & Chris Waltzek on GoldSeek Radio
from GoldSeekRadiodotcom:
Peter Grandich & Chris Waltzek on GoldSeek Radio
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Peter Grandich & Chris Waltzek on GoldSeek Radio
Listen Now
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Theravance Inc (NASDAQ: THRX)
Theravance, Inc., a biopharmaceutical company, engages in the
discovery, development, and commercialization of small molecule
medicines primarily for therapeutic areas of respiratory diseases,
bacterial infections, and central nervous system (CNS)/pain. The company
offers VIBATIV, a bactericidal injectable antibiotic for the treatment
of Gram-positive infections. Its principal development programs with
GlaxoSmithKline plc include the RELOVAIR that has completed Phase 3
clinical studies for the treatment of patients with chronic obstructive
pulmonary disease (COPD) or asthma; the LAMA/LABA combination, a Phase 3
program for patients with COPD; and the Bifunctional Muscarinic
Antagonist-Beta2 Agonist (MABA) program that has completed Phase 2b
study for the treatment of COPD. The company's principal development
programs also comprise and the Peripheral Mu-Opioid Receptor Antagonist
(PµMA) program for the TD-1211 mu-opioid receptor designed to alleviate
gastrointestinal side effects of opioid therapy without affecting
analgesia. In addition, it develops TD-4208 that has completed Phase 2a
single-dose COPD study; TD-1792, an antibiotic under clinical-stage for
the treatment of serious infections caused by Gram-positive bacteria.
The company was formerly known as Advanced Medicine, Inc. and changed
its name to Theravance, Inc. in April 2002. Theravance, Inc. was founded
in 1996 and is headquartered in South San Francisco, California.
To analyze Theravance's stock for potential trading opportunities, please take a look at the 1-year chart of THRX (Theravance, Inc.) below with my added notations:
The main price level to watch on THRX is $24 (navy). Not only is the
$24 resistance apparent in April and January, but that price also acted
as support back in the fall. So, the $24 level is key to this stock at
this point. In addition, THRX has a lower level of support at $20 (red).
The Tale of the Tape: THRX has key price level at $24. A long position could be entered at the $24 support with a stop placed below that level, or a short trade could be placed on a break below $24, if that should happen, with an expectation of a fall to $20.
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To analyze Theravance's stock for potential trading opportunities, please take a look at the 1-year chart of THRX (Theravance, Inc.) below with my added notations:
The main price level to watch on THRX is $24 (navy). Not only is the
$24 resistance apparent in April and January, but that price also acted
as support back in the fall. So, the $24 level is key to this stock at
this point. In addition, THRX has a lower level of support at $20 (red).The Tale of the Tape: THRX has key price level at $24. A long position could be entered at the $24 support with a stop placed below that level, or a short trade could be placed on a break below $24, if that should happen, with an expectation of a fall to $20.
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Investors in China should be wary of revolution
He stepped down in 2010 to launch a China-focused investment trust for
Fidelity, but performance was disappointing.
He is confident of turning around the situation and remains bullish about the
prospects for the country and its stock market.
“There is a new generation of internationally educated, internet-informed
individuals who will push for reforms,” he said. “They are aware of the
realities of their country and their government in a way that no previous
generation has been. The people will want a say.”
Ongoing political rumblings with Japan and South Korea will prove a sticking
point with this generation, who are able to access non-censored news through
social media websites, he said. (more)
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